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Adjusted earnings before interest, taxation, depreciation and amortisation (Ebitda) came in at £171.6m, up from £168.1m in 2015. However, analysts at Peel Hunt and RBC Capital Markets said this was below expectations.

Although total dividends per share were increased from 25.5p to 27.2p, higher than expected by Peel Hunt, Jupiter’s share price, at the time of writing, had fallen four per cent to 413p.

What the company said

Chief executive Maarten Slendebroek, said:

In a year which many have described as challenging, I am pleased that Jupiter continued to deliver growth for shareholders and value for clients. Investor sentiment was affected by a number of macro events, but against this backdrop we saw inflows alongside healthy growth in profits. We continue to execute on our strategy, successfully launching new funds and products and opening two new international offices. In 2017 we will build on this through our ongoing investment in the people, systems and infrastructure which will help underpin our future growth.